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2 years ago

Transactions for the Sheldon Cooper Company, which provides welding services, for the month of June are presented as follows.

Business

1 answer:

dem82 [27]2 years ago

5 0

Answer:

June 1 Sheldon Cooper invests $4,000 cash in exchange for shares of common stock in a small welding business.

Account Debited: Cash

Account Credited: Common Stock capital

2 Purchases equipment on account for $1,200.

Account Debited: Equipment

Account Credited: Accounts Payable

3 Pays $800 cash to landlord for June rent.

Account Debited: Rent expense

Account Credited: Cash account

12 Bills P. Leonard $300 after completing welding work done on account.

Account Debited: Accounts receivable

Account Credited: Service revenue

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Marigold Corp. reported the following year-end information: beginning work in process inventory, $90000; cost of goods manufactu

Stels [109]

Answer:

=$854,000

Explanation:

The cost of goods sold is the expense incurred by a manufacturing firm when making goods to be sold to customers. It is calculated using the formula.

Cost of goods sold = Beginning Stock plus purchases/ cost of goods manufactured minus ending stock

Marigold Corp:

Beginning stock: $162,000

Ending stock: $174,000

cost of goods manufactured, $866000;

cost of goods sold =

$162,000 + 866,000 -$174,000

=$854,000

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3 years ago

Even though local newspapers are very inexpensive, people rarely buy more than one of them each day. This fact: Select one: a. i

ddd [48]

Implies that, for most people, the marginal benefit of reading a second newspaper is less than the marginal cost is the fact.

<h3>What is newspaper?</h3>

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Thus, option C is correct.

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2 years ago

A credit card had an Apr of 12.87% all of last year and compounded interest daily. What was the credit card's effective interest

alisha [4.7K]

Answer:

13.73%

Explanation:

Effective annual rate = (1 + APR / m ) ^m - 1

M = number of compounding = 365

$(1 + \frac{0.1287}{365} )^{365} - 1$

$(1.000353)^{365} - 1$ = 0.1373 = 13.73%

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3 years ago

on june 30, the company lends it chief financial officer $44,000; principal and interest 7% are due in on one year. what journal

julsineya [31]

A because only real one

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2 years ago

A local jacket distributor expects to sell 9,000 black fleece jackets in a year. Assume that EOQ model assumptions are valid. Ea

torisob [31]

Answer: $4,800

Explanation:

First find the Annual holding cost:

= Average inventory * Cost of holding a unit

= 500/2 * 1 * 12 months

= $3,000

Then find the Annual ordering cost:

= Expected units to be sold/ Units ordered * Ordering cost

= 9,000/500 * 100

= $1,800

Annual Inventory cost = Annual holding cost + Annual ordering cost

= 3,000 + 1,800

= $4,800

4 0

2 years ago